Plymouth Industrial REIT $PLYM Shares Sold by Meixler Investment Management Ltd.

Meixler Investment Management Ltd. reduced its position in shares of Plymouth Industrial REIT (NYSE:PLYM) by 82.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,265 shares of the company’s stock after selling 51,636 shares during the period. Meixler Investment Management Ltd.’s holdings in Plymouth Industrial REIT were worth $252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted its position in Plymouth Industrial REIT by 233.0% during the third quarter. GAMMA Investing LLC now owns 1,605 shares of the company’s stock worth $36,000 after acquiring an additional 1,123 shares during the last quarter. CWM LLC lifted its stake in shares of Plymouth Industrial REIT by 40.5% during the 3rd quarter. CWM LLC now owns 2,210 shares of the company’s stock worth $49,000 after purchasing an additional 637 shares during the period. Covestor Ltd lifted its stake in shares of Plymouth Industrial REIT by 1,965.3% during the 3rd quarter. Covestor Ltd now owns 2,499 shares of the company’s stock worth $55,000 after purchasing an additional 2,378 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Plymouth Industrial REIT by 65.3% during the second quarter. BNP Paribas Financial Markets now owns 3,834 shares of the company’s stock worth $62,000 after purchasing an additional 1,514 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Plymouth Industrial REIT by 244.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,228 shares of the company’s stock valued at $68,000 after purchasing an additional 2,999 shares during the period. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Plymouth Industrial REIT

In other news, CEO Jeffrey E. Witherell sold 151,583 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $3,313,604.38. Following the completion of the transaction, the chief executive officer directly owned 437,682 shares in the company, valued at approximately $9,567,728.52. This represents a 25.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Connolly sold 59,376 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $21.86, for a total value of $1,297,959.36. Following the sale, the executive vice president owned 120,236 shares of the company’s stock, valued at $2,628,358.96. This represents a 33.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PLYM shares. Barclays decreased their price target on Plymouth Industrial REIT from $24.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Monday, October 27th. BMO Capital Markets lowered their target price on shares of Plymouth Industrial REIT from $24.00 to $22.00 and set a “market perform” rating for the company in a report on Monday, October 27th. Robert W. Baird downgraded shares of Plymouth Industrial REIT from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $19.00 to $24.00 in a research note on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Plymouth Industrial REIT in a research note on Thursday, January 22nd. Finally, Colliers Securities downgraded Plymouth Industrial REIT from a “buy” rating to a “hold” rating and set a $22.00 price objective for the company. in a report on Monday, October 27th. One equities research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $21.00.

Plymouth Industrial REIT Stock Up 0.1%

Shares of Plymouth Industrial REIT stock opened at $22.00 on Monday. Plymouth Industrial REIT has a twelve month low of $12.70 and a twelve month high of $22.74. The stock has a market cap of $979.88 million, a price-to-earnings ratio of 11.00 and a beta of 1.24. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average price of $21.92 and a 200 day moving average price of $21.03.

Plymouth Industrial REIT (NYSE:PLYM) last issued its quarterly earnings data on Monday, November 10th. The company reported ($1.23) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($1.70). The company had revenue of $51.16 million for the quarter, compared to analyst estimates of $49.62 million. Plymouth Industrial REIT had a return on equity of 16.76% and a net margin of 47.78%. Equities research analysts forecast that Plymouth Industrial REIT will post 1.83 earnings per share for the current fiscal year.

About Plymouth Industrial REIT

Plymouth Industrial REIT, Inc (NYSE: PLYM) is a real estate investment trust specializing in the acquisition, ownership and management of industrial properties across the United States. The company targets bulk distribution warehouses, last-mile fulfillment centers and light manufacturing facilities that serve leading logistics, e-commerce and manufacturing tenants. Plymouth Industrial REIT focuses on assets located in established industrial markets with strong demand drivers, including proximity to major transportation corridors, ports and population centers.

The firm’s portfolio strategy emphasizes geographic diversification and properties with high barriers to entry.